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Netflix (NFLX) Co-CEO and Cofounder Reed Hastings leaves role, becomes chairman

Reed Hastings is moving from Co-CEO to Chairman of the Board at Netflix as the company reports its Q4 2022 financial results.

TJ Denzer

January 19, 2023 1:30 PM

Image via Shutterstock

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As we dig deeper into 2023, it’s getting to be the time of season where various companies are reporting their quarter-end financial results, and Netflix is one of the first up on the block this year. It just reported its Q4 2022 financial results, and with it, a few further details. One of them is that co-CEO and cofounder Reed Hastings is stepping down from the CEO role to move elsewhere in the company. Hastings will instead become Chairman of the Board of Directors at Netflix.

This news was reported in Netflix’s Q4 2022 earnings results, which were posted on the company’s investor relations website on January 19, 2023. It was in said report that Hastings’ shift in positions was announced. As Hastings moves to his new position as Executive Chairman of the Board at Netflix, Ted Sarandos will still remain as co-CEO of the company, joined now by Greg Peters. Previously, Peters was in the Chief Operating Officer at the company.

Greg Peters was happy and humbled to speak to his new role at the company in a statement along the financial results:

Sarandos also shared words on the shift in the company’s management.

Netflix reported a huge boost in subscribers alongside its Q4 2022 earnings results. For more financial reporting, be sure to keep it locked here at Shacknews.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.